TD Asset Management Inc Purchases 5,070 Shares of Chord Energy Co. (NASDAQ:CHRD)

TD Asset Management Inc lifted its position in Chord Energy Co. (NASDAQ:CHRD) by 101.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,070 shares of the company’s stock after purchasing an additional 5,070 shares during the quarter. TD Asset Management Inc’s holdings in Chord Energy were worth $1,689,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Rise Advisors LLC purchased a new position in Chord Energy during the first quarter worth about $31,000. GAMMA Investing LLC grew its position in Chord Energy by 151.6% in the second quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock worth $53,000 after acquiring an additional 191 shares in the last quarter. Atlas Capital Advisors LLC bought a new position in Chord Energy in the second quarter valued at $60,000. Quadrant Capital Group LLC raised its position in Chord Energy by 94.3% during the fourth quarter. Quadrant Capital Group LLC now owns 406 shares of the company’s stock valued at $67,000 after purchasing an additional 197 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Chord Energy in the 1st quarter worth about $72,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Insider Buying and Selling at Chord Energy

In related news, Director Samantha Holroyd bought 500 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $149.51 per share, with a total value of $74,755.00. Following the transaction, the director now owns 14,417 shares in the company, valued at approximately $2,155,485.67. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on CHRD shares. Wolfe Research began coverage on Chord Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Chord Energy in a research note on Thursday, September 5th. Bank of America increased their target price on shares of Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. BMO Capital Markets started coverage on shares of Chord Energy in a research report on Monday, June 3rd. They set an “outperform” rating and a $230.00 price target for the company. Finally, Piper Sandler decreased their price objective on Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $202.10.

Chord Energy Stock Performance

Shares of NASDAQ:CHRD opened at $134.05 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. The company has a market cap of $8.30 billion, a price-to-earnings ratio of 6.23, a price-to-earnings-growth ratio of 4.48 and a beta of 0.99. Chord Energy Co. has a 12 month low of $129.75 and a 12 month high of $190.23. The company has a 50-day moving average price of $156.90 and a 200-day moving average price of $168.24.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). The business had revenue of $902.70 million for the quarter, compared to the consensus estimate of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.65 EPS. As a group, equities analysts anticipate that Chord Energy Co. will post 19.67 EPS for the current year.

Chord Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend was Wednesday, August 21st. Chord Energy’s dividend payout ratio (DPR) is currently 23.46%.

Chord Energy Profile

Chord Energy Corporation operates as an independent exploration and production company in the United States. It acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids in the Williston Basin. The company sells its products to refiners, marketers, and other purchasers that have access to nearby pipeline and rail facilities.